XRP price hovered near $1.35 on Sunday ahead of major political and monetary policy events expected to influence cryptocurrency markets this week.
President Donald Trump met with advisers on Friday to discuss government ethics language under consideration for the CLARITY Act, a major cryptocurrency bill the Senate is set to vote on next week. The meeting's outcome remains undisclosed.
Senate Vote Set for Tuesday
The Senate faces a procedural cloture vote on September 15 at 2:15 p.m. ET on the motion to proceed with the CLARITY Act. Cloture requires 60 votes, and Republicans currently hold 53 Senate seats. A successful cloture vote would begin debate but would not make the measure law.
Senator Cynthia Lummis released a revised 630-page draft on Thursday, incorporating more than 114 provisions requested by Democratic colleagues. Key provisions include:
- Non-decentralized DeFi protocols must register with the CFTC, with CFTC and Treasury jointly writing the rules
- DeFi provisions cover spot digital commodity transactions only, leaving prediction markets outside that section
- Clarification on when credit unions may provide digital asset services
The draft also addresses rules for trading protocols that retain centralized control despite describing themselves as decentralized. The ethics language outcome from Friday's meeting remains unknown.
Federal Reserve Decision Adds Volatility
The Federal Open Market Committee meets September 15 and 16, with its rate decision scheduled for Wednesday at 2 p.m. ET. Futures markets recently placed the probability of a quarter-point rate increase near 90%, driven by August consumer prices rising 3.4% from a year earlier.
A rate increase could weigh on speculative assets if Treasury yields and the dollar rise. XRP price faces two separate catalysts within roughly 24 hours, creating potential for sharp moves in either direction.
Technical Outlook
XRP's relative strength index stood near 45 on September 13, indicating subdued momentum, while its MACD remained negative, suggesting recent weakness had not reversed. The first resistance zone sits around $1.35 to $1.37, near recent moving averages. A sustained break could put $1.40 and then $1.45 in focus. Below $1.33, attention would shift toward $1.30 if weakness deepens.
